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10 hours ago, agonyaunt said:

Spark burning rate question to @Seoulite or others?

Around the middle of the blog (https://blog.flare.xyz/creating-and-redeeming-fxrp/), there is a clause "a further 223.5 Spark are burned as a penalty" Is there a formula to calculate how many Spark gets burned (223.5 Spark was used) and other cases when Spark gets burned?

Thank you in advance!

I think that is based on some percentage of the transaction size. I don't know the exact numbers, and in general the numbers on the white papers and examples are necessarily what they will be in reality. We're all waiting for the details to come out closer to launch.

Update: on burning spark, I don't think we know the exact transaction fees yet, but they're supposed to be low.

Another thing to remember is that I believe FLR is inflationary. Someone please correctly if I'm wrong, but I think new spark is created to pay the FTSO rewards. Perhaps this isn't actually inflationary but comes from a pool set aside for paying those rewards.

Edited by brianwalden
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(Please respond in the thread if you think there is anything big that I missed or any important points that I got wrong)   What is Flare? In simple terms, Flare is a smart contract plat

Right it's very confusing. It seems that Flare is giving different levels of priority to different coins. XRP holders are in on the ground floor, airdropped FLR and access to the general rewards pool

In a very recent interview that Brian linked to, Hugo says he is aware of several wallets in development. He also mentioned Ledger. By the way he said it, I would expect ledger support to either be av

16 minutes ago, WarChest said:

As someone that didn’t use an exchange but updated the message field instead, Any news on where or when we get the Flare wallet available?

With the beta still underway, the current expectation is June or July.

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13 minutes ago, JASCoder said:

read my fresh post, LMK if you have more Qs.

I’m so sorry to be dim but I don’t know what you mean by “fresh post”.  I looked at your profile to see if you’d just posted a explanation or something but missed seeing one.  Sorry to be a pain.

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5 minutes ago, BillyOckham said:

I’m so sorry to be dim but I don’t know what you mean by “fresh post”.  I looked at your profile to see if you’d just posted a explanation or something but missed seeing one.  Sorry to be a pain.

You found it and responded already ("Are you confusing DFLR and YFIN").
Cheers

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Oh I think I see what you meant...  you explained in recent post what the beta had been...  and from that I can see you only mentioning Flare Finance stuff so I’m now realising the beta is just Flare Finance...   not a Flare beta test but a Fkare Finance beta test that no doubt uses the Flare Coston test network to run on.   Sorry to have been dim.

 

EDIT: cross posted at same time Jas replied.

Edited by BillyOckham
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3 minutes ago, BillyOckham said:

While I’m buzzing you with silly question @JASCoder can I ask please do you know if LTC and Doge holders are getting any Flare airdropped to them?

I thought not but I’m seeing posts saying that they are.

I have not seen that, no. But cannot attest to any certainty.

If I do learn otherwise, I'll drop you a DM.

Cheers

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36 minutes ago, BillyOckham said:

can I ask please do you know if LTC and Doge holders are getting any Flare airdropped to them?

LTC definitely not. They have been assigned a certain number of spark (I think around 10 billion) from the Flare Foundation's (not for profit entity) holdings which is the 'rewards pool' for people who mint FLTC. AFAIK FDOGE minters will receive rewards from the 'general rewards pool' like everyone else.

I am 99.99% certain that only XRP holders are getting an FLR airdrop. XLM holders are not getting anything special, except access to the general rewards pool for those who mint FXLM.

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4 minutes ago, Seoulite said:

LTC definitely not. They have been assigned a certain number of spark (I think around 10 billion) from the Flare Foundation's (not for profit entity) holdings which is the 'rewards pool' for people who mint FLTC. AFAIK FDOGE minters will receive rewards from the 'general rewards pool' like everyone else.

I am 99.99% certain that only XRP holders are getting an FLR airdrop. XLM holders are not getting anything special, except access to the general rewards pool for those who mint FXLM.

Thanks.  That’s as I previously understood it.  So much noise and confusion out there...

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8 minutes ago, BillyOckham said:

Thanks.  That’s as I previously understood it.  So much noise and confusion out there...

Right it's very confusing. It seems that Flare is giving different levels of priority to different coins. XRP holders are in on the ground floor, airdropped FLR and access to the general rewards pool for F-assets. LTC holders are next on the ladder, with no airdrop but their own special rewards pool just for them. DOGE, XLM, and whoever comes next get nothing special; no airdrop and no special rewards pool just for them. They can swim in the general rewards pool with all the other F-asset holders. Think of it like a resort:

- XRP holders have been given their own private suites and access to the public swimming pool.

- LTC holders get no suite, but they have their own private pool to frolick around in away from the plebs.

- DOGE and XLM holders get no suite and no private pool, they are stuck fighting for sunbeds and dealing with screaming kids in the public access pool.

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Hi Seoulite, great information, thank you very much.

I am an XRP holder, have claimed my spark tokens and have invested in Gala as I think there is huge potential for crypto and the gaming industry. My focus recently has been on CSC (CasinoCoin) since news that it is migrating back over to the XRPL, do you have any news regarding that and the Flare Network?

Any other interesting collaborations in the works?

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On 3/11/2021 at 6:37 PM, kirkjb1980 said:

Hi Seoulite, great information, thank you very much.

I am an XRP holder, have claimed my spark tokens and have invested in Gala as I think there is huge potential for crypto and the gaming industry. My focus recently has been on CSC (CasinoCoin) since news that it is migrating back over to the XRPL, do you have any news regarding that and the Flare Network?

Any other interesting collaborations in the works?

Hi kirk welcome to XRP chat. Just a piece of advice if you put @ and then type the name it will notify the person you are talking to. That's why I'm late replying to this! Sorry!

I was planning to make a post about that because in the last few days there have been some announcements. Nothing as straightforward as Gala though, I think it's more projects like DeFi banks and loans which I don't have the expert knowledge to explain. But I might just collect a bunch of links together so people can go digging on their own.

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